Hard Money for the next deal

Cape Coral, Florida
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Hard Money for the next deal

Zachary Palmer
Member since 2023 · 11 posts · 3 votes

Hello Community!!

I am finishing up my first fix and flip while starting to find the next deal. I have a found good deal and even talked down the price $15k. I need to find some hard money lending to get into it since all of my capital is in my current flip. I have $55k tied up in the first flip and am looking to sell it for $105k. The project is going to be done in the next two weeks and we currently have two interested buyers off market. 

Are there any hard money lenders out there who would be willing to give me a chance?

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  • Jaime Duron
    Realtor · Austin, TX · Member since 2019 · 69 posts · 28 votes
    2y

    Hey Zachary Palmer! I would definitely check out Kiavi, I've used them before and they were easy to use. They also, pay 100% of the rehab portion in which you would get draws from when the work gets complete. If you have any further questions, please feel free to reach out. 

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  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    2y
    Quote from @Zachary Palmer:

    Hello Community!!

    I am finishing up my first fix and flip while starting to find the next deal. I have a found good deal and even talked down the price $15k. I need to find some hard money lending to get into it since all of my capital is in my current flip. I have $55k tied up in the first flip and am looking to sell it for $105k. The project is going to be done in the next two weeks and we currently have two interested buyers off market. 

    Are there any hard money lenders out there who would be willing to give me a chance?


     How much are you aiming for on this second deal?

    [email protected]
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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Zachary Palmer

    Send us the info we will take a look

    7e investments53 Reviews
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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y
    Quote from @Jaime Duron:

    Hey Zachary Palmer! I would definitely check out Kiavi, I've used them before and they were easy to use. They also, pay 100% of the rehab portion in which you would get draws from when the work gets complete. If you have any further questions, please feel free to reach out. 

     I don't think Kiavi will work in this scenario since all his funds are tied in his current deal. You still need at least 10% down + closing (if experienced) to get financing from them. 

    @Zachary Palmer sounds like you need a partner and a hard money lender to fully fund this opportunity. It will be difficult to find a hard money lender that will finance 100% of the pp and renovations in this market. 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
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  • Zachary Palmer
    OP
    Member since 2023 · 11 posts · 3 votes
    2y

    Thank you all for commenting and reaching out. Unfortunately, this next deal is going to go on without me. I am still going to be looking for the next one and trying to find a partner to put the deposit down. I appreciate the help.

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  • Mary Ainsworth
    Lender · San Diego, CA · Member since 2022 · 235 posts · 94 votes
    2y
    Quote from @Zachary Palmer:

    Hello Community!!

    I am finishing up my first fix and flip while starting to find the next deal. I have a found good deal and even talked down the price $15k. I need to find some hard money lending to get into it since all of my capital is in my current flip. I have $55k tied up in the first flip and am looking to sell it for $105k. The project is going to be done in the next two weeks and we currently have two interested buyers off market. 

    Are there any hard money lenders out there who would be willing to give me a chance?


     Hey Zach, 

    I think I can help you here! I sent you a DM but I'll put my specs here as well

    Bridge loans:

    • 8.99-11.99% rates
    • up to 90% of PP funded and 100% of rehab funded
    • No PPP
    • 1 lender point fee
    • nationwide!

    DSCR:

    • 30 year fixed rate available
    • 6.00-8.49% depending on the property details and your FICO
    • Up tp 80% LTV
    • Anywhere from 0 to 7 year ppp options
    • 1 point lender fee
    • nationwide!
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